W. P. Carey (NYSE:WPC) Price Target Increased to $62.00 by Analysts at Wells Fargo & Company

W. P. Carey (NYSE:WPC - Free Report) had its price objective upped by Wells Fargo & Company from $60.00 to $62.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust's stock.

A number of other research firms have also recently commented on WPC. JMP Securities reissued a market perform rating on shares of W. P. Carey in a research note on Friday, June 21st. Scotiabank cut their target price on shares of W. P. Carey from $61.00 to $60.00 and set a sector perform rating for the company in a research report on Wednesday, August 7th. UBS Group raised their price target on W. P. Carey from $57.00 to $63.00 and gave the company a neutral rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their price objective on W. P. Carey from $70.00 to $68.00 and set an overweight rating for the company in a report on Friday, July 12th. Finally, Royal Bank of Canada decreased their price objective on W. P. Carey from $63.00 to $62.00 and set an outperform rating on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $61.09.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded down $0.01 during trading on Monday, hitting $60.04. The stock had a trading volume of 580,441 shares, compared to its average volume of 1,272,910. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.94. W. P. Carey has a 12 month low of $51.36 and a 12 month high of $67.40. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.07 and a beta of 0.92. The business's 50-day moving average is $57.11 and its 200 day moving average is $56.75.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.47). W. P. Carey had a return on equity of 6.50% and a net margin of 34.83%. The business had revenue of $389.70 million during the quarter, compared to the consensus estimate of $381.39 million. During the same quarter in the prior year, the company earned $1.36 earnings per share. W. P. Carey's revenue was down 13.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that W. P. Carey will post 4.53 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, June 28th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.87. W. P. Carey's dividend payout ratio is 132.32%.

Insider Transactions at W. P. Carey

In other news, Director Mark A. Alexander purchased 3,500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $55.87 per share, for a total transaction of $195,545.00. Following the acquisition, the director now directly owns 38,124 shares of the company's stock, valued at approximately $2,129,987.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.08% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cohen & Steers Inc. increased its stake in shares of W. P. Carey by 91.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust's stock valued at $731,800,000 after buying an additional 5,407,289 shares during the period. Norges Bank purchased a new position in W. P. Carey during the 4th quarter valued at $157,107,000. Equity Investment Corp bought a new position in W. P. Carey in the 1st quarter worth $59,802,000. Principal Financial Group Inc. lifted its position in shares of W. P. Carey by 4,716.5% in the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust's stock worth $52,005,000 after purchasing an additional 785,766 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of W. P. Carey by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust's stock valued at $1,995,114,000 after purchasing an additional 657,188 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

About W. P. Carey

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.